Tenants got a dose of good news last night when the Rent Guidelines Board approved preliminary hikes that were lower than most observers had anticipated.

The board recommended one-year lease-renewal hikes of 2 to 4.5 percent. For new two-year leases, the proposed increase was 4 to 7.5 percent.

A vote on the final figures is scheduled for June 26.

The rent hikes would affect 1 million rent-stabilized apartments and kick in Oct. 1.

If past practice holds, the nine-member board will ultimately move to the middle range, which would result in increases of about 3.25 and 5.75 percent.

“It’s extremely disappointing,” said Joseph Strasburg, president of the Rent Stabilization Association, which represents 25,000 landlords.

“We’re looking at a very, very low final number.”

Last year, the board approved higher hikes of 4.25 and 7.25 percent.

By standards of previous rent hearings, last night’s session was remarkably sedate, drawing only 60 people and just a few catcalls from the tenant-dominated audience.

Extra security was in place – as were metal detectors – after the final hearing last year turned so disruptive that the vote had be postponed for more than two hours.

Tenant advocates said they are considering other forms of protest, possibly including a picket line at Goldman Sachs, where board Chairman Marvin Markus works.

While three new members were appointed to the board this year, the script was as predictable as ever.

The two landlord representatives suggested increases of 5.5 and 9.5 percent and were promptly voted down 7-2. The landlord representatives called for a rent freeze and were shot down by the same 7-2 margin.

Public member Jonathan Kimmel then recommended the range that was adopted in a quick 5-4 vote.

The arguments put forward by both sides were also familiar.

Landlords warned that owners on the margins would get out of the business or go under.

Tenants decried the continuing loss of apartments the middle class could afford.

Edrie Cote, president of the London Terrace Tenants’ Association, said about 40 percent of the 1,000 units in that sizzling Chelsea neighborhood have been deregulated and rents are going through the roof.

“A one-bedroom was listed at $4,400 and it was snapped up,” she said.

On one thing both sides agreed: the need to overhaul the rent-setting process.

“Let’s get rid of the charade,” Strasburg said. “The fairest method is a formula” tied to inflation.

Jack Barth, an art professor at Cooper Union, where the rent hearing was held, introduced a new objection to high rents.

When he spotted a reporter interviewing tenants, he walked over and said his students are arriving late for class because their commute is so long.

“They have to live so far outside the city, they’re missing classes,” he said

“New York has been a cultural center since World War II. That kind of creative environment is over.”